Company planning to invest $18bn across the two states

Will be used to support chip manufacturer’s $3.87bn HBM plant in West Lafayette, Indiana

Plant will be largest of its type in the US

If approved, funding will support sites in Texas and Missouri

First facility is expected to be operational in 2025

Department has signed a non-binding preliminary memorandum of terms with the company

Further extends program launched by department in 2023

Secretary of Commerce Gina Raimondo was asked about consequences at a committee hearing

It's the last grant to be awarded as part of the $1.5bn program

Know your customer-style regulations could be introduced for public cloud providers

After companies refuse to hand over information

As long as the private sector chips in too